Skyworks Solutions (NASDAQ:SWKS) Lowered to Sector Weight at KeyCorp

KeyCorp downgraded shares of Skyworks Solutions (NASDAQ:SWKS) from an overweight rating to a sector weight rating in a report published on Monday morning, Marketbeat reports.

Several other brokerages also recently weighed in on SWKS. StockNews.com downgraded shares of Skyworks Solutions from a buy rating to a hold rating in a research note on Friday, March 29th. TD Cowen increased their price objective on shares of Skyworks Solutions from $115.00 to $125.00 and gave the company an outperform rating in a research report on Wednesday, January 31st. Rosenblatt Securities reissued a buy rating and issued a $130.00 price objective on shares of Skyworks Solutions in a research report on Wednesday, January 31st. Piper Sandler reissued a neutral rating and issued a $90.00 price objective on shares of Skyworks Solutions in a research report on Thursday, January 4th. Finally, Susquehanna increased their price objective on shares of Skyworks Solutions from $120.00 to $125.00 and gave the company a positive rating in a research report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $115.10.

Skyworks Solutions Price Performance

Skyworks Solutions stock opened at $104.14 on Monday. The company’s 50 day simple moving average is $104.91 and its 200-day simple moving average is $101.50. The company has a market capitalization of $16.69 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 1.96 and a beta of 1.37. Skyworks Solutions has a 1 year low of $85.06 and a 1 year high of $115.69. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.51 and a current ratio of 5.02.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.02. Skyworks Solutions had a net margin of 19.48% and a return on equity of 18.68%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the firm earned $2.33 EPS. The business’s revenue was down 9.6% on a year-over-year basis. As a group, equities research analysts expect that Skyworks Solutions will post 5.64 earnings per share for the current year.

Skyworks Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date was Friday, February 16th. Skyworks Solutions’s dividend payout ratio is currently 48.23%.

Institutional Trading of Skyworks Solutions

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Skyworks Solutions by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 18,656,578 shares of the semiconductor manufacturer’s stock worth $2,097,372,000 after purchasing an additional 123,564 shares during the period. State Street Corp lifted its stake in shares of Skyworks Solutions by 3.7% in the 1st quarter. State Street Corp now owns 7,677,613 shares of the semiconductor manufacturer’s stock worth $905,804,000 after acquiring an additional 276,958 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Skyworks Solutions by 3.4% in the 3rd quarter. Victory Capital Management Inc. now owns 4,133,012 shares of the semiconductor manufacturer’s stock worth $407,474,000 after acquiring an additional 136,188 shares during the period. Geode Capital Management LLC lifted its stake in shares of Skyworks Solutions by 1.7% in the 1st quarter. Geode Capital Management LLC now owns 3,536,039 shares of the semiconductor manufacturer’s stock worth $416,436,000 after acquiring an additional 60,213 shares during the period. Finally, Lazard Asset Management LLC lifted its stake in shares of Skyworks Solutions by 15.0% in the 4th quarter. Lazard Asset Management LLC now owns 3,285,893 shares of the semiconductor manufacturer’s stock worth $299,442,000 after acquiring an additional 428,364 shares during the period. Institutional investors and hedge funds own 85.43% of the company’s stock.

About Skyworks Solutions

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, DC/DC converters, demodulators, detectors, diodes, wireless analog system on chip products, directional couplers, diversity receive modules, filters, front-end modules, hybrids, light emitting diode drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, power over ethernet, power isolators, receivers, switches, synthesizers, timing devices, voltage controlled oscillators/synthesizers, and voltage regulators.